Turkey loses Paris arbitration case, faces $1.47 billion penalty

Deniz Yavuzyılmaz, a deputy from the Republican People's Party (CHP) in Zonguldak, announced that Turkey has lost an international arbitration case in Paris related to the Iraq-Turkey crude oil pipeline. Yavuzyılmaz stated that the countdown has begun for the payment of a $1.471 billion penalty imposed on Turkey.

According to Yavuzyılmaz's social media post, the Paris Court of Appeal rejected the application to annul the arbitration penalty. He alleged that the ruling by the International Arbitration Court, which found Turkey liable for irregular actions concerning the pipeline between May 21, 2014, and September 30, 2018, was upheld. These actions reportedly included transporting Iraqi oil without Baghdad's permission, loading it at the Ceyhan Port, and selling it below the Iraqi state's selling price.

Yavuzyılmaz claimed that his party had previously revealed the final arbitration decision, a 277-page document, to the public with supporting evidence. He asserted that the ruling ordered Turkey to pay Iraq approximately $1.471 billion in compensation. He further stated that the ruling was based on Turkey's alleged unauthorized transport and sale of Iraqi oil.

"AKP lost the Paris case! We reached the hidden court decision. We have documented that the case filed at the Paris Court of Appeal to cancel the 1 Billion 471 Million Dollar penalty decision ruled by the International Arbitration Court due to the AKP's irregularities in the Iraq-Turkey crude oil pipeline has been lost," Yavuzyılmaz declared. He concluded by demanding that the penalty amount be collected from the personal assets of President Erdoğan and relevant AKP officials.